OK, so here's my swatch:

Observe that the scales are no longer marred by ugly vertical columns. I cannot imagine why Walker thought they were necessary, as I refuse to believe that she couldn't come up with any way to fix them...this is, after all, Barbara Walker we're discussing. (Also I have no idea how lavender yarn ended up looking pink; I'm going to blame contrast with the blue towel it's drying on, or possibly faulty white balance in the camera.)
Anyway, the bottom half is essentially the same as the original, just with each increase moved to be right next to its corresponding decrease. Also, I used "knit into the stitch below" rather than Walker's "lift the bar between stitches and knit it twisted". I don't think it makes a significant difference. The chart is:

Some concerns were raised that the lack of vertical columns means that the scales don't "close" properly at the bottom. While I think the eye's tendency to fill in makes this a nonissue, I tried doing the top half of the swatch slightly compressed, like so:

This is of course one repeat and you'd want an extra stitch at the left end for symmetry.
I've also debated doing something complex involving a double decrease and some increasing to make scales that really close at the bottom, but I don't know if the effect will be worth the effort. I'm probably going to end up swatching it.
Meanwhile, work on the Golden Viking proceeds apace. I'm into the fifth repeat (of seven) on the back, and starting to consider doing the sleeves in the round rather than flat. Fewer seams=happier me.